China tariff delays pull European shares out of doldrums [Reuters]
HENKEL AG & CO KGAA PFD (HENOY)
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Source: Reuters
China tariff delays pull European shares out of doldrums (Reuters) - European shares staged a comeback from early losses on Tuesday as growth sectors led the charge, after Washington’s move to delay tariffs on some Chinese goods provided a lift to battered global sentiment. The U.S. administration will delay imposing a 10% tariff on certain Chinese products, including laptops and cell phones, beyond September, the Office of the U.S. Trade Representative said on Tuesday. A separate list also included some imports that would be exempted altogether from tariffs. That supported a move back to riskier assets after a cocktail of negative drivers had pressured markets for the past few sessions. Commodity stocks .SXPP, automakers .SXAP and tech sectors .SX8P were among the biggest gainers in Europe, and helped the pan-European STOXX 600 index close up 0.5%, erasing session losses of up to about 0.8%. “What we are seeing now with this announcement is a clear positive development,” said Ken Ode
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